FOURTH QUARTER 2017 ANNUITY SALES
March 21, 2018 by Sheryl J. Moore
Indexed Annuity
Sales for the fourth quarter of 2017 were $13,621 million, compared with sales of $13,306 million for the fourth quarter of 2016. Fourth quarter indexed annuity sales were up more than 6% when compared to the previous quarter, and up more than 2% when compared with the same period last year.
Total 4Q2017 indexed annuity sales were $13,621,361,568.
Total 2017 indexed annuity sales were $53,992,849,673.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2017:
1. Allianz Life
2. Athene USA
3. Nationwide
4. American Equity Companies
5. AIG
6. Great American Insurance Group
7. Global Atlantic Financial Group
8. Midland National Life
9. North American Company
10. Lincoln National Life
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.13% of premium for the fourth quarter of 2017; a decline 0.15% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Great American Insurance Group
Career- CNO Companies
Direct Response- N/A
Independent Agent- Athene USA
Independent Broker Dealer- Allianz Life
National Broker Dealer– Global Atlantic Financial Group
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Allianz Life Allianz 222 Annuity
Bank- Great American Assurance Select 7
Career- C.M. Life Index Horizons
Direct Response- N/A
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker Dealer- Allianz Life Allianz 222 Annuity
National Broker Dealer- Nationwide Nationwide Summit
Fee-Based Overall- Allianz Life Retirement Foundation ADV Annuity
Fixed Annuity
Sales for the fourth quarter of 2017 were $755 million, compared with sales of $1,035 million for the fourth quarter of 2016. Fourth quarter fixed annuity sales were down nearly 5% when compared to the previous quarter, and down more than 27% when compared with the same period last year.
Total 4Q2017 fixed annuity sales were $755,013,922.
Total 2017 fixed annuity sales were $3,624,743,078.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2017:
1. Jackson National Life
2. Modern Woodmen of America
3. Global Atlantic Financial Group
4. Great American Insurance Group
5. EquiTrust
6. Foresters
7. Reliance Standard
8. Brighthouse Financial
9. American National
10. American Equity Companies
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 4.05% of premium for the fourth quarter of 2017; up 0.03% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Financial Group
Career- Modern Woodmen of America
Direct Response- Amica
Independent Agent- Jackson National Life
Independent Broker Dealer- Brighthouse Financial
National Broker Dealer- Global Atlantic Financial Group
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- Forethought Life ForeCare Fixed Annuity
Career- Kansas City Life Growth Track
Direct Response- Amica Single Premium Deferred Annuity
Independent Agent- EquiTrust ChoiceFour
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
National Broker Dealer- Forethought Life ForeCare Fixed Annuity
Multi-Year Guaranteed Annuity
Sales for the fourth quarter of 2017 were $6,747 million, compared with sales of $6,657 million for the fourth quarter of 2016. Fourth quarter MYGA sales were up more than 1% when compared to the previous quarter, and up more than 1% when compared to the same period last year.
Total 4Q2017 MYGA sales were $6,747,041,155.
Total 2017 MYGA sales were $30,371,355,804.
THE TOP TEN MYGA CARRIERS FOR THE FOURTH QUARTER OF 2017:
1. New York Life
2. AIG
3. Global Atlantic Financial Group
4. Massachusetts Mutual Life Companies
5. Security Benefit Life
6. Colorado Bankers Life
7. Symetra Financial
8. Protective Life Companies
9. Fidelity & Guaranty Life
10. Pacific Life Companies
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.40% of premium for the fourth quarter of 2017; up 0.12% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Financial Group
Career- New York Life
Direct Response- New York Life
Independent Agent- Fidelity & Guaranty Life
Independent Broker Dealer- Global Atlantic Financial Group
National Broker Dealer- New York Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life SecureFore 3 Fixed Annuity
Bank- Forethought Life SecureFore 3 Fixed Annuity
Career- Thrivent Financial Security One
Direct Response- Bankers Life SPDA-5
Independent Agent- Fidelity & Guaranty FG Guarantee-Platinum 5
Independent Broker Dealer- Forethought Life SecureFore 3 Fixed Annuity
National Broker Dealer- Forethought Life SecureFore 3 Fixed Annuity
Wink anticipates compiling first quarter, 2018’s sales with a release date of May, 2018. -sjm
